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LME aluminum shock adjustment on Tuesday, as of 15:00 Beijing time, 3-month Lun aluminum reported 1831 US dollars / ton, down 0.
05%
on the day.
The main 2002 contract of Shanghai aluminum pulled back slightly, with the highest 14130 yuan / ton and the lowest 14035 yuan / ton within the day, closing at 14070 yuan / ton, down 0.
25% from the closing price of the previous trading day; The trading volume was 40,460 lots, and the daily decrease was 20,793 lots; The position was 102,500 lots, a daily decrease of 1,615 lots
.
The basis was reduced to 380 yuan/ton; The price difference between Shanghai aluminum in 2002-2003 narrowed to 45 yuan / ton
.
Market focus: (1) The final value of the US Markit services PMI recorded 52.
8 in December, higher than the previous value and expectations of 52.
2
.
(2) The Iraqi Allah Party said that if Trump insists that US troops continue to be stationed in Iraq, it will turn US air bases into ruins
.
(3) At the end of November 2019, aluminum inventories at Japan's three major ports rose 0.
9% month-on-month to 321,200 tons
, according to Marubeni Corporation.
Spot analysis: On January 7, spot A00 aluminum was reported at 14430-14470 yuan / ton, with an average price of 14450 yuan / ton, down 90 yuan / ton
per day.
Due to the increase in weekend arrivals, the intraday market circulation has increased significantly, and the holders have actively shipped goods, but relatively speaking, the demand has weakened significantly compared with last week, and the middlemen tend to receive goods at low prices, and the trading between the two sides is slightly
deadlocked.
Downstream intraday on-demand procurement is the mainstay, and the receipt of goods is flat
.
Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 42,265 tons on Tuesday, a daily increase of 1,742 tons; On January 6, LME aluminum stocks were 1,463,200 tons, down 7,725 tons per day, down for 10 consecutive days
.
Main positions: the top 20 long positions of Shanghai aluminum main 2002 contract were 63022 lots, minus 1667 lots per day, 78539 short positions, minus 2588 lots per day, net short positions were 15517 lots, daily minus 921 lots, long and short were reduced, and net space was reduced
.
Market research and judgment: On January 7, the main force of Shanghai aluminum in 2002 pulled back
slightly.
The United States Markit service industry data in December exceeded expectations, the dollar rebounded, while the market's panic about the situation in the Middle East has eased, crude oil prices have fallen, cost support has weakened, superimposed demand has weakened, Shanghai aluminum inventories and spot inventories have rebounded slightly, aluminum prices have insufficient upward momentum, but China's alumina production is at a low level, alumina prices have stabilized, superimposed on the current electrolytic aluminum inventory is still at a historical low, aluminum prices downward space is relatively limited
。 In terms of spot, due to the increase in weekend arrivals, the source of intraday market circulation has increased significantly, and the shippers have been active, but relatively speaking, the demand has weakened significantly compared with last week, and middlemen tend to receive goods at low prices, and downstream intraday on-demand procurement is the mainstay, and the receipt of goods is flat
.
Technically, the main 2002 contract of Shanghai aluminum reduced its position, and the daily MACD green column contracted, and it is expected that the short-term shock adjustment
.
